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Updated: From left: Barath Shankar Subramanian, Abhinav Chaturvedi and Prayank Swaroop, partners at Accel Image: Hemant Mishra for Forbes India Chennai, circa 2011: Shekhar Kirani had sniffed an untapped opportunity. Kirani, who joined global venture investment firm Accel as a partner the same year after stints with two Silicon Valley-based startups, knew the nuances and magic of the subscription business. Both his former companies (LightSurf and StarFish) made loads of money and got eventually sold to Motorola and VeriSign. So when the young venture capitalist (VC) started hunting for his...

How Sudheer Koneru, an engineer from India, built Zenoti into a billion-dollar company by scaling its payments and B2B businesses

Zenoti, a Bellevue, WA-based enterprise cloud platform for the beauty and wellness industry, closed a $160m Series D funding round at over a $1 billion valuation. The round was led by Advent International, through Advent Tech and Sunley House Capital, an affiliate of Advent. Tiger Global and Steadview Partners also participated in the round. To date, Zenoti has raised a total of approximately $250m. The company intends to use the funds to continue scaling operations, support research and development and to accelerate further A.I. innovations, including advanced algorithms leveraging its ente...

Zenoti hits $1B valuation, raises $160M to build enterprise software for salons, spas, yoga studios December 15, 2020 at 4:59 pm The Seattle startup ecosystem has a new unicorn. Zenoti just reeled in a $160 million Series D round to help supercharge its enterprise software product used by more than 12,000 spas, salons, and other wellness businesses across the globe. The Bellevue, Wash-based company joins an elite group of Seattle-area startups valued at more than $1 billion, including six — Convoy, Auth0, Outreach, Qumulo, Remitly, Icertis — that reached “unicorn” status over the past...

Zenoti enters unicorn club with $160 million fundraise [Mint, New Delhi] Dec. 15—Bellevue- and Hyderabad-based software-as-a-service (SaaS) firm Zenoti has raised $160 million as part of its Series D round led by private equity firm Advent International, through Advent Tech and affiliate Sunley House Capital, at a valuation of more than $1 billion. Existing investors Tiger Global and Steadview Partners also participated in the round. With this, Zenoti, founded in 2010 by Sudheer Koneru, a person of Indian origin, joins other Indian SaaS unicorns such as Zoho, Freshworks, Druva, and Icertis....